Banky reviewed monthly-payout savings accounts in the Egyptian banking sector, and the Fusion account from Kuwait Finance House (KFH) Egypt came out on top, offering a competitive profit rate tiered by balance of up to 18.25, with a minimum opening balance starting at EGP 5000, for a customer with EGP 500,000.

KFH Egypt's Fusion account

  • Profit rate of up to 18.25% a year

  • Payout frequency: monthly

  • Minimum to open the account: EGP 5000

  • Minimum balance to earn the expected profit: EGP 100,000

Profit tiers:

  • From EGP 100,000 to EGP 2 million: 7.5%

  • From EGP 2 million to EGP 5 million: 11.5%

  • From EGP 5 million to EGP 15 million: 13%

  • From EGP 15 million to EGP 30 million: 15.5%

  • From EGP 30 million to EGP 50 million: 16.5%

  • From EGP 50 million to EGP 100 million: 17.5%

  • Above EGP 100 million: 18.25%

How to calculate it

If you save EGP 500,000 in the highest-paying savings account in the Egyptian banking sector, KFH Egypt's Fusion account, you will earn 7.5% a year

  • Expected annual profit: 500000 * 7.5% = EGP 37500

  • Monthly profit: 37500 ÷ 12 = EGP 3125 a month

Features of KFH Egypt's Fusion account

  • Competitive expected profit rate based on the deposit amount

  • Monthly Fusion account: profit is calculated on the minimum balance during the month and credited monthly

  • The account is available to natural persons only

  • Currency: Egyptian pound

  • Free e-statement

  • Easy, secure access to your savings with a debit card

  • No expected profit is paid for the month of deposit or the month of withdrawal

Banky's view:

KFH Egypt's Fusion account is a good option for customers who want a monthly return with the flexibility of keeping their money liquid, compared with long-term savings products. Although the rate applied to a EGP 500,000 balance is only 7.5%, the account lets you benefit from higher profit tiers as your balance grows, along with easy withdrawals and deposits and access to your savings at any time.